UBS Group (NYSE:UBS) Shares Gap Up on Analyst Upgrade

UBS Group AG (NYSE:UBS)’s share price gapped up before the market opened on Tuesday after Bank of America upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $42.69, but opened at $44.37. Bank of America now has a $60.30 price target on the stock, up from their previous price target of $44.00. UBS Group shares last traded at $44.36, with a volume of 1,013,323 shares trading hands.

Other analysts have also recently issued reports about the company. Citigroup reissued a “neutral” rating on shares of UBS Group in a research report on Monday, November 3rd. Keefe, Bruyette & Woods cut UBS Group from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 7th. Wall Street Zen raised UBS Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Morgan Stanley reaffirmed an “underweight” rating on shares of UBS Group in a research report on Monday, November 24th. Finally, BNP Paribas cut shares of UBS Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

Hedge Funds Weigh In On UBS Group

Hedge funds have recently bought and sold shares of the business. Maseco LLP purchased a new stake in shares of UBS Group during the 2nd quarter valued at about $28,000. Flagship Wealth Advisors LLC bought a new position in UBS Group during the third quarter valued at approximately $29,000. Twin Peaks Wealth Advisors LLC bought a new position in UBS Group during the second quarter valued at approximately $33,000. Larson Financial Group LLC boosted its holdings in UBS Group by 118.4% in the third quarter. Larson Financial Group LLC now owns 821 shares of the bank’s stock worth $34,000 after purchasing an additional 445 shares during the last quarter. Finally, Private Trust Co. NA grew its position in UBS Group by 75.2% in the 3rd quarter. Private Trust Co. NA now owns 853 shares of the bank’s stock worth $35,000 after purchasing an additional 366 shares during the period.

UBS Group Stock Performance

The firm has a market cap of $143.76 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.73 and a beta of 1.13. The company has a debt-to-equity ratio of 3.69, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50-day simple moving average is $39.20 and its 200 day simple moving average is $38.07.

UBS Group (NYSE:UBS) last released its quarterly earnings results on Wednesday, October 29th. The bank reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.28. UBS Group had a return on equity of 8.31% and a net margin of 11.02%.The firm had revenue of $12.76 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period last year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities analysts predict that UBS Group AG will post 1.9 earnings per share for the current year.

UBS Group Company Profile

UBS Group AG provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through five divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, Investment Bank, and Non-core and Legacy. The company offers investment advice, estate and wealth planning, investing, corporate and banking, and investment management, as well as mortgage, securities-based, and structured lending solutions.